This paper provides a consistent comparison of general tuition subsidies, need-based student aid, merit-based student aid, and income continent loans (ICL). Each of these policies is analyzed through a dynamic general equilibrium model in which individuals differ in family wealth and...

Max Weber attributed the higher economic prosperity of Protestant regions to aProtestant work ethic. We provide an alternative theory: Protestant economiesprospered because instruction in reading the Bible generated the human capital crucial to economic prosperity. We test the theory using...